Superconducting Materials Market Size & Share 2022

1. Superconducting Materials Market Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by 2030

2. The superconducting materials market is expected to witness sizable expansion by 2030 owing to increasing penetration in electronics devices. In addition, robust government investment in improving equipment efficiency, along with product demand from the R&D industry, are likely to propel market growth over the forecast period. • In the initial phase of the COVID-19 pandemic, the market experienced a downfall with regards to revenue due to disruptions in the supply chain and production capacity. The electronics sector shrank on account of declining consumer interest which resulted in minimum product requirements. However, the expansion of healthcare sector encouraged the government to spend more on improving healthcare equipment used in diagnosing fatal diseases. Moreover, relaxations in lockdowns and rapid R&D activities further propelled the market growth. • For instance, in January 2022, in a research paper published in IEEE Transactions on Applied Superconductivity, it was found that superconductors with high critical magnetic fields can be integrated to fit in the bore of accelerator magnets with different coating techniques. • To cite another instance, in March 2022, in a research paper titled, "Superconducting Materials and Devices Grown by Focused Ion and Electron Beam Induced Deposition", a review was published on how ions and electrons under nanopatterning technique turn into superconductors based on tungsten, niobium, molybdenum, and more.

3. On the other hand, the key participants in the superconducting materials market have been focusing on rigorous R&D activities, engaging in strategic mergers, and improving their global supply chain to strengthen their market standing, thereby accelerating overall industry growth. • In a notable instance, in August 2021, American Superconductor, an American energy technology firm, along with ComEd, an electric utility company, announced the integration of resilient electric grid system, AMSC's REG system, which utilizes high-temperature superconductor wire to enhance reliability and performance of electric grid. • In September 2021, in yet another instance, Superconductor Technologies Inc., a superconducting innovation company, announced a strategic merger with Allied Integral United, Inc., a provider of care services. The merger is set to ensure favorable business results across varied regions. • The superconducting materials market has been divided in terms of end-user, product, and region. • Based on end-user, the industry has been categorized into electronics, medical, research & development, and others. Among these, the others segment is slated to hold a significant share of around $615.4 million in market revenue by the end of estimated timeline.

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